Germany: German Ministry of Finance plans to end so-called "RETT Blocker Schemes"

Under German real estate transfer tax (RETT) law it is possible to indirectly acquire up to 100% of the shares in a property holding company without triggering RETT. The Ministry of Finance plans to limit this exemption, such that only up to 94.9% of the shares can be acquired without triggering RETT for transactions after 31 December 2012.